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Sydney and Melbourne apartment investors were the losers of 2020 with rents and prices falling

3D ago 0 Replies 13 Views
New data from SQM Research has shown that Canberra now has the highest asking rent for houses at $656.70, followed by Sydney at $632.90 and Darwin at $603.40.
It’s a similar story for unit asking rents, with Canberra also boasting the highest price at $473.4, followed by Sydney at $444.4

According to Louis Christopher, managing director of SQM Research: “The move towards regional living was the primary reason why investors outside our two largest capital cities did so well.”
“However, if you owned an investment property in Darwin or Perth, or indeed regional Australia, you have had one of the best years ever.”

Sydney saw a high 10.3 per cent decline in units and 7.6 per cent decline in houses in December 2019, while Melbourne’s asking rents declined by 4.8 per cent for houses and 8.7 per cent for units during the same period.
Darwin was the big winner – posting a significant 27.3 per cent growth since December 2019.

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